29 January 2015
   
New Zimbabwe Header
5 vie for Mnangagwa’s constituency
Mental illness saves man from gallows
Woman assists hubby to rape sister
Europe shouldn't tell us about women, Mugabe
AU 'mixed signals' as Mugabe takes over
EU to inject $260 m starting Feb
Mutasa lives to fight another day
Biti calls for action against Mugabe
MORE NEWS
No experiments with economy, RBZ chief
Ghana helps African Sun narrow losses
MORE BUSINESS
TVs to become redundant in June?
Brad to star in Angelina's Africa
MORE SHOWBIZ
Cricket: Zim face tough world cup mission
Mancini: I want Yaya Toure at Inter
MORE SPORTS
Magaisa: Outlawing corporal punishment
Inclusive Democracy: Power to the People
MORE OPINION
 
Candid short history and reality check
Rethinking investiment and land laws
MORE COLUMNISTS
 
 
Companies should fund referendum: PM
18/02/2013 00:00:00
by Staff Reporter I Agencies
 
Referendum funding ... Morgan Tsvangirai and Arthur Mutambara on Monday
 
RELATED STORIES
Interview: Zim headed for second GNU
Supreme Court throws out NCA challenge
Tsvangirai launches ‘Yes’ campaign
Madhuku bid to block referendum fails
Courts cannot stop referendum: AG
Cash for referendum found: Chinamasa
New constitution may be changed: Mugabe
New constitution must be rejected: Gwisai
Referendum called for March 16
Presidential powers curbed: Matinenga
Leaders announce constitution deal
Amendment 20 could sink COPAC draft

ZIMBABWE plans to borrow from local companies to raise $100 million needed to hold a referendum on a new constitution with donors expected to finance elections later in the year, Prime Minister Morgan Tsvangirai said on Monday.

The MDC leader also revealed that he had reached an agreement with President Robert Mugabe over a new head for the Zimbabwe Electoral Commission (ZEC) following the resignation of former judge Simpson Mutambanengwe.

The country will vote in March on whether to adopt a new charter approved by parliament that seeks to curb sweeping presidential powers while strengthening state institutions such as the cabinet, parliament and judiciary.

Rivals Tsvangirai and Mugabe formed a power-sharing government after a disputed 2008 election and agreed to hold fresh polls only after adopting a new constitution.

Tsvangirai and deputy premier Arthur Mutambara, said the government wanted to borrow from firms, including mines and banks, as well as issuing Treasury bills.

"The finances required for the referendum and the parallel voter registration and inspection is US$100 million. We believe we can raise that internally,” Tsvangirai told reporters at a press conference.

“We have also requested the UNDP to help fund the election. Whatever is raised by the UNDP will go towards the national elections."

Mutambara added: "We are saying to the private sector: 'This is your country, political stability is in your best interest.'"

But the country has a history of defaulting on its loans and with external debt topping $10 billion at a time most foreign donors have withheld money, pressing for political and economic reforms.

Finance Minister Tendai Biti has already approached the United Nations to help raise money for general elections, which by law are due when the current presidential and parliamentary terms expire at the end of June.

Meanwhile, Tsvangirai said the GPA leaders had identified a new head for the electoral commission and dismissed media reports claiming Mutambanengwe had been forced out.

He said: “Let me correct an impression on Justice Mutambanengwe resignation, he was not forced out but opted out voluntarily on health reasons.

“There were a couple of names that we were considering but we arrived at somebody but I am not at liberty to reveal the name because the person may not be aware.”



Advertisement

The MDC-T said the leaders had rejected calls by civic organisations for a change of the referendum date to give people time to register as well as examine the new constitution.

He said: “We don’t have a voter’s roll in terms of the referendum, there is no voters roll and all those other cumbersome procedures, and so one day is enough.

“If we could vote in a harmonised election on one day why can’t we do that in a referendum? We are going to reach out to everyone, we will expedite the process to make everybody understands the document.”


 
Email this to a friend Printable Version Discuss This Story
Share this article:

Digg it

Del.icio.us

Reddit

Newsvine

Nowpublic

Stumbleupon

Face Book

Myspace

Fark
 
 
 
comments powered by Disqus
 
RSS NewsTicker